{"id":11444,"date":"2013-09-06T17:20:46","date_gmt":"2013-09-06T17:20:46","guid":{"rendered":""},"modified":"2013-09-06T17:20:46","modified_gmt":"2013-09-06T17:20:46","slug":"drive_bys_turn_on_obama_economy","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2013\/09\/06\/drive_bys_turn_on_obama_economy\/","title":{"rendered":"Drive-Bys Turn on Obama Economy"},"content":{"rendered":"

\"Listen<\/a><\/p>\n

RUSH: You know, folks, even the Drive-By Media is starting to turn on Obama on the economy. The economic news, the unemployment news, it went down 7.3 from seven-point whatever it was, but the media knows that that\u2019s not because jobs are being created.<\/line>A couple of them — I\u2019ve got it here in the Stack — are telling the truth about it.<\/line><\/p>\n

Reuters: “US Job Growth Misses Expectations, Offers Cautionary Note for Fed.”<\/a> Now, what they\u2019re doing, the Federal Reserve, if you\u2019ve noticed, the stock market is — let me check. Even as we speak here, let me check the stock market. Well, it\u2019s up right now, but not much. It was down a lot yesterday, trickling down, because the Federal Reserve is talking about no more quantitative easing, which is no more stimulus. And the people in the markets know that the only reason the stock market\u2019s been going through the roof is because the Fed has been buying stock, not people. Short version of the truth. That\u2019s the simplified version here. And if the Fed starts talking about no more of that, panic sets in.<\/p>\n

<\/a>So right to the rescue rides Reuters: “US Job Growth Misses Expectations, Offers Cautionary Note for Fed.” What Reuters is saying: don\u2019t you dare stop priming the pump. Don\u2019t you dare stop spending money and printing it, stock market or anywhere else, because the jobs market is precarious. We\u2019re witnessing a tectonic shift in reporting on the economy. We really are. And it\u2019s all about politics. It\u2019s not about the media trying to get it right. Obama and the Democrats and their minions are deathly afraid that the Federal Reserve is going to look at the lowering unemployment rate and end quantitative easing. They\u2019re scared to death, this is an amazing thing, too, because the unemployment rate went down to 7.3% not because a bunch of new jobs are created; it\u2019s because even more people left the workforce.<\/p>\n

If the same number of jobs that existed in 2009 existed today, the unemployment rate would be 10.8%. It\u2019s not 10.8%; it\u2019s 7.3 because those jobs are gone. They don\u2019t exist. They\u2019re not even available to be filled. It\u2019s called the labor force participation rate. You add that people, when they stop looking, they are no longer counted as unemployed. Go figure. They have looked and looked and looked. They\u2019ve been on unemployment 99 weeks or more. They finally have given up. They\u2019re no longer counted.<\/p>\n

The unemployment rate that\u2019s reported only includes people actively trying to find a job. Those who have given up, which numbers in the millions now, don\u2019t get counted, so the rate goes down. And so the media is afraid that the people at the Fed will not know what I just told you and that they\u2019ll see the unemployment rate going down and believe they have fixed it and stop priming the pump, stop spending, printing money. Obama and the Democrats and their minions are scared to death of this. And the Democrats know — we\u2019re talking a serious amount of money — the Democrats know that if the Fed stops printing, it\u2019s actual digital transfers, folks, they\u2019re not actually printing hard currency for all of this. They\u2019re just digitizing, just adding money to a computer spreadsheet, essentially.<\/p>\n

They\u2019re doing this to the tune of $85 billion a month, right into the financial markets. The money that they\u2019re printing, digitizing, is being used to buy securities and stocks, and the Democrats know that if that stops, if the Fed stops injecting $85 billion play dollars into the financial markets, they\u2019re just gonna collapse. You saw an indication of it earlier this week when the market was down 130 points in a couple minutes on a rumor that Bernanke was through with quantitative easing.<\/p>\n

And if the market were to go into a steady loss situation, it would give up the fiction of a booming economy, which the media and Obama have tried to create. If not booming, at least a solid recovery. It would end that fiction. It would vanish into thin air just in time for the 2014 midterms.<\/p>\n

Cannot have that. Cannot have any economic activity taking place that makes it look like the recovery has stalled going into the 2014 midterms. And so while we\u2019re getting this tectonic shift in reporting on the economy, it\u2019s not because the media wants to get it right. It\u2019s because they\u2019re trying to nudge the Federal Reserve to keep printing money. I find it funny, actually, how Obama and the Democrats believe in trickle-down economics when it comes to quantitative easing. Oh, of course they do. Why, the Fed puts $85 billion in the stock market, and what happens to it? Why, it trickles down to other aspects of the market. It\u2019s trickle-down in a way. It\u2019s artificial, but it still is trickle-down.<\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: “US Job Growth Less Than Expected in August — the unemployment rate hit a 4-1\/2 year low as Americans gave up the search for work, complicating the Federal Reserve\u2019s decision on whether to scale back its massive monetary stimulus this month.”<\/p>\n

That\u2019s a Reuters paragraph, and it\u2019s amazing what they put in that paragraph, what they\u2019re admitting. The economy is stagnant; it\u2019s not growing. It only looks like it is because the Fed is engaging in a massive monetary stimulus, which they might stop. Job growth less than expected; unemployment rate, four-and-a-half-year low, doesn\u2019t mean anything. All of that in the first paragraph of a Reuters story.<\/p>\n

And then, ladies and gentlemen, here is Ben Casselman, economics reporter for the Wall Street Journal. Get this statistic. “For the 40th consecutive month, more unemployed workers left the labor force than found work.” For the 40th consecutive month. That\u2019s over three years, for those of you in Rio Linda. That would be three years and four months in a row more unemployed workers left the labor force, gave up looking for work than found work.<\/p>\n

There is no recovery. There is no positive economic activity except in — well, two or three areas. High-tech is doing well and fracking and oil. Other than that, traditional areas of economic growth, can\u2019t count on \u2019em, not happening, manufacturing, you name it, in the tank or stagnant. Here we\u2019ve got an administration touting all of its hard work and great policies. And we\u2019ve had three years and four months in a row, every month, 40 months in a row, more unemployed workers left the labor force than found work. Just 169,000 new jobs created in August.<\/p>\n

Not only that, previous numbers were revised downward, big. June, for example, revised down 172,000 to 188,000. Last month, August was revised sharply, 162 to 104,000. This is ominous. This is being reported from Texas, 152,000 new jobs, there were 180,000 expected. And the numbers in the previous months have not been right. They\u2019ve been made worse. That\u2019s what the “revised downward” means.<\/p>\n

From Breitbart.com<\/a>: “In a report released Tuesday, Bloomberg reports that black homeownership has collapsed to an 18 year low. Bloomberg buries this brutal fact under a nonsensical headline that makes it look like a local Chicago story: ‘Black Homeownership Dying Where Obama Revitalized.\u2019 But four paragraphs down we not only learn about the collapse in the black homeownership rate, but that it is now almost half that of whites.”<\/p>\n

We have the first African-American president and everything for African-Americans economically has worsened. And there still is that unbreakable bond, the Democrat Party, for the first African-American president. I can\u2019t tell you how depressing this is. I sit here 25 years, and every time I\u2019ve said it, I\u2019ve meant it from the bottom of my heart. We want everybody in this country doing well. This is the one spot on this planet that affords that opportunity for the vast majority of people, the United States of America. It\u2019s been the one place where people\u2019s dreams actually can come true, at least in greater numbers than anywhere else.<\/p>\n

The United States has been a place where average, ordinary — and I use those terms simply in a descriptive, not a classification way — average, ordinary Americans can end up doing and accomplishing extraordinary things. It\u2019s the history of this country. It is the true history of this country. And we\u2019re led by a president and a political party which want to bury that and try to convince people that, “Yeah, that mighta happened, but it wasn\u2019t real.” It was fake or it happened in an unfair, unjust way because the people that got rich actually stole it from other people; they didn\u2019t do it with hard work. The old “you didn\u2019t build that.”<\/p>\n

I can\u2019t tell you how frustrating it is for me to be led — I mean, I understand we\u2019ve got people in the country who don\u2019t like it and think that everything about this country is a lie, but we\u2019ve never been led by people who believe that, and we are now. And their friends, their simpatico friends run Hollywood, and they run the schools, and they run any number of pop culture institutions. It\u2019s gotta stop. It has to bottom out and start rebounding and reversing itself. There literally is no future in telling anybody that it\u2019s hopeless. There\u2019s no future in telling anybody they got no chance. There\u2019s no future in telling anybody that the best days of this country are behind \u2019em. There\u2019s no future, there\u2019s no good that can come of it. Not for the people.<\/p>\n

The only people benefit from everybody being depressed and down in the dumps and hopeless are the Democrat Party. They\u2019re the only people, or Washington. Washington, which wants everybody to turn to it for sustenance. They\u2019re the only ones, and they\u2019re not sitting out there wallowing in misery, and they\u2019re not giving up on themselves, and they\u2019re not giving up on their future. They\u2019re not giving up on prosperity. They\u2019re not giving up on doing better next year than they did this year. They want you to or they\u2019re comfortable with you doing it or they\u2019re perfectly fine telling you it can\u2019t be done. And people don\u2019t want to hear it. The simply don\u2019t want to hear it.<\/p>\n

People are troubled. They know this is not how this country has always been. This is not how things got done. This is not how things get done. This is not how the country works. People want leadership. They want clarity. They want inspiration. They want to be told that things are possible, not that they can\u2019t happen. And this black home ownership, black unemployment, black teen unemployment — you know, you can talk about racial problems all you want, but if that doesn\u2019t change, nothing else is, because economics, I don\u2019t care what people say, money, lifestyle, it matters. It matters.<\/p>\n

It\u2019s in the top two things on everybody\u2019s important list. And when you have this kind of disparity and this kind of economic failure and this kind of economic hopelessness, all the rest of it is academic. They\u2019re gonna go about trying to get by somehow, and if they don\u2019t think that playing within the guardrails and following the rules and taking the path that has been laid out by tradition\u2019s gonna get \u2019em there, they\u2019re onna do something else. Everybody will. Anybody would. It\u2019s so unnecessary, in the greatest country on earth.<\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: You know, folks, even the Drive-By Media is starting to turn on Obama on the economy. The economic news, the unemployment news, it went down 7.3 from seven-point whatever it was, but the media knows that that\u2019s not because jobs are being created.A couple of them — I\u2019ve got it here in the Stack […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[],"tags":[],"yoast_head":"\nDrive-Bys Turn on Obama Economy - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rushlimbaugh.com\/daily\/2013\/09\/06\/drive_bys_turn_on_obama_economy\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"Drive-Bys Turn on Obama Economy - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: You know, folks, even the Drive-By Media is starting to turn on Obama on the economy. 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